By News Reporter
Highest Second-Quarter Revenue in Company’s History Reflects
Sales Growth for Premium LG Home Appliances and Auto Parts
SEOUL, July 29, 2022 — LG Electronics Inc. (LG) announced its highest-ever second-quarter revenues, reflecting strong sales for LG home appliances in key regions and the profitable growth of LG’s vehicle components business as the global automotive industry rebounds.
LG reported revenues of KRW 19.5 trillion in the second quarter of 2022, 15 percent higher than the same quarter the previous year. Operating profit for the second quarter was KRW 792.2 billion, 12 percent lower than the same quarter last year, largely due to supply chain challenges and higher logistics costs.
Given the business impact of the evolving state of the pandemic and economic conditions, LG is leveraging its comprehensive business portfolio, expanding sales from premium to mass-tier products and growing business-to-business areas such as auto parts.
The LG Home Appliance & Air Solution Company reported revenues of KRW 8.07 trillion in the second-quarter, first time in LG’s history for a single business unit to exceed quarterly revenues of KRW 8 trillion. Operating profit was KRW 432.2 billion. Revenues increased 18 percent from the second quarter a year ago, mainly driven by stronger sales of premium appliances and new categories such as hygiene products using steam technology in the key regions of North America and Latin America. The business unit plans to continue its momentum by improving competitiveness of premium products and strengthening its mass-tier lineup.
The LG Home Entertainment Company recorded revenues to KRW 3.46 trillion in the second quarter with operating loss of KRW 18.9 billion reflecting increased marketing investments in response to intensified market conditions. LG’s Home Entertainment strategy will center on effectively managing marketing expenses and growing the premium TV segment, particularly around peak selling seasons including the FIFA World Cup and holiday.
The LG Vehicle component Solutions Company achieved second-quarter sales of KRW 2.03 trillion, a 19 percent increase from the same period of 2021, leading the business unit to be profitable for the first-time. The significantly higher sales were driven by LG proactively responding to higher demand from automakers with efficient supply chain management. With the cloud of uncertainty created by inflation and geopolitical risks, the company will continue to build strong relationships with global automakers along with strong cost structure management to further improve profitability.
The LG Business Solutions Company recorded solid second-quarter revenues of KRW 1.54 trillion with operating profit of KRW 14.3 billion. Revenues increased 19 percent from a year ago largely on the back of recovery of the business-to-business segment. The company plans to aggressively target the rebounding B2B segment by developing more customized solutions and expanding its product portfolio for stable growth.
Discontinued Operations: Second-quarter financial results from LG’s solar panel business, which closed in June as previously announced, are being treated as a loss from discontinued operations.
Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on July 29, 2022 at 16:00 Korea Standard Time (07:00 GMT/UTC). Conference call participants are instructed to pre-register online to receive a private PIN. To participate in the conference call, dial +82 31 810 3130, enter passcode 6418# and then the PIN. The corresponding presentation file will be available for download at the LG Electronics website before the call.
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Quick question, what is the current software version on the hu810pw projector? Has there ever been any updates for this projector
Only asking because mine says it’s 03.00.37 out of the box and says there is no software updates
If this is the current version for this projector and it has been out for well over a year and never had any software/firmware updates, have I fallen victim to the LG never update any of their not popular products in there lifetime company policy? which kept me away from LG products for the pass 10years
english audio track problem with m2TS file format movies... (MPC-HC app support or an update for built-in Media Player)By oha
if anyone maybe knows a idea to resolve this, please share, thanx..
in Turkey.. oled55c1 media player can not play english audio track in the m2ts movie file from usb.. it will sound funny but, it seems like WebOs or its built-in Media Player is against english.. : (( it plays the m2TS audio track within the file with russian, spanish or italian but wierdly not english.. ¿¿?? when you go to audio tracks list setting there are no language titles.. the list only shows "song languages" or something like that.. and under that menu there are listings as 1, 2, 3.. it should list language audio tracks formally as it should be.. 1: English 2: Russian 3: Spanish or whatever listed in the file.. this is not only one-file problem.. As far as I know this issue exists in every 2021 and 2022 LG oled smartTVs WEBOS models and built-in media players for every m2TS file movies...
if anyone would ask; for these movie files on PC windows OS there's no problem at all.. english audio track is there.. and plus; Samsung plays this file with english audio track without any problems.. : ((((
what about installing mpc-hc on WebOs? would that resolve this issue ? possible someday ?
hope this issue will be resolved with updates soon..
Automatic Firmware Update
Press the Home/Smart button on your remote to bring up your launcher bar.
Click the Settings icon in the top-right.
Choose the All Settings option at the bottom.
Choose the General menu from the left.
Scroll down, near the bottom of the list, and select About this TV.
From here, make sure Allow automatic updates is checked, and click the Check for updates button.
If an update is found, follow the steps on screen to download and install it.
By News Reporter
SEOUL, July 7, 2022 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the second quarter of 2022.
LG reported revenues of KRW 19.5 trillion in the second quarter of 2022, 15 percent higher than the same quarter the previous year. Operating profit for the second quarter was KRW 791.7 billion, expected to be 12 percent lower than the same quarter of the previous year.
LG Electronics terminated production and sales of solar panel at the end of June this year and is treating the performance of solar business as a discontinued operating loss from the second quarter 2022 earnings announcement. Applying the same standards from the second quarter of 2022 to the same period last year, LG would have recorded a revenue of KRW 16.9 trillion with an operating profit of KRW 900.1 billion.
These figures are the tentative consolidated earnings based on K-IFRS provided as a service to investors prior to LG Electronics’ final earnings results including net profit. Details regarding each division which will be announced officially later this month.
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